QPAGOS said its normalized net income for the first quarter amounted to a loss of 3 cents per share, compared with a loss of 6 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.7 million, compared with a loss of $295,350 in the year-earlier period.

The normalized profit margin was 264.8%.

Total revenue grew year over year to $887,490 from $56,040, and total operating expenses rose from the prior-year period to $3.6 million from $488,770.

Reported net income came to a loss of $2.7 million, or a loss of 6 cents per share, compared to a loss of $472,560, or a loss of 10 cents per share, in the prior-year period.